Buying Short Sale House. The pros of buying a short sale. View listing photos, review sales history, and use our detailed real estate filters to find the perfect place.
Buying a Short Sale Home (Gene Shaw) The short sale buyer has recourse and won't lose the house. In a short sale, all lien holders work together to compromise, accepting less than the full amount owed to them to recover a lesser amount. A Short-Sale is a process required when the house isn't worth, to the prospective buyers, the amount that is outstanding to the bank(s), AND the owners of the home can not pay the difference.
So the seller gets nothing; all proceeds from buying a short sale house go to the lender.
The lender can then determine how they wish to treat the difference.
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A short sale in real estate is one in which a house is sold for a price that is less than the amount still owed on the mortgage. Regarding this, is it bad to buy a short sale house? View listing photos and nearby sales, and find the perfect homes for sale.
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